In today’s edition, more analyses on the climate deal struck in Paris on Saturday. We get behind the scenes with no political leader wanting his reputation stained by a repeat of the debacle in Copenhagen, Reuters asserts. True, the Republicans in the US Congress might still throw a wrench in the works, and Bloomberg views the deal as “toothless”. But the fact remains (in the Carbon section) that eighteen nations including the U.S., Japan and Germany will work together to develop international carbon markets to help speed the pace of emission reductions under the Paris climate deal. And this is good news!
Quote of the day
“It’s easier for emissions-trading schemes to come into place now that we have the Paris agreement. Prior to that we’ve had disputation across the fossil-fuel industry, with governments saying: ‘The rest of the world is not going to act. Why should we? Wash our hands of responsibility. Goodbye’.”
Kevin Rudd, the former Australian prime minister whose climate policies helped cost him his job, in the Bloomberg News’ story Paris Paves Way for Global Carbon Price, Ex-Australia PM Says (in the Carbon section)
The radical idea at the core of the Paris climate deal
By Brad Plumer – Vox
There’s a radical idea at the heart of the big Paris climate accord that strikes many people as baffling. The deal is largely voluntary. That’s right: None of the 195 countries that signed on are actually required to make emissions cuts.
COP21: Climate obstacles emerge within hours
By Pilita Clark and Demetri Sevastopulo – Financial Times
The obstacles facing this weekend’s historic global climate change accord were thrown into relief on Sunday night when businesses and government officials played down the impact of the deal and US Republicans underlined their opposition.
How the world learned its lesson and got a climate deal
By Richard Valdmanis and Emmanuel Jarry – Reuters
It was an agreement born from a fear of failure, delivered by the smoothness of French diplomacy.
***LB: Also in this story “No political leader wanted his reputation stained by a repeat of the debacle in Copenhagen.”
Laurent Fabius lauded for successful conclusion
By Michael Stothard and Anne-Sylvaine Chassany – Financial Times
Ten minutes before the Paris climate accord was set to be agreed, the culmination of a year of fraught negotiations, the Nicaraguan delegation decided they still had problems with the text.
***LB: Also in this story “The Chinese, the Indians, the US and Europe had decided they were happy. The vulnerable island nations had agreed. The 10,000 delegates from 195 countries were ready to open the champagne.”
A Toothless Treaty Can’t Stop Climate Change
By Leonid Bershidsky – Bloomberg View
As 195 countries hammered out an agreement to minimize climate change the town council of Woodland, North Carolina, met to ban a solar farm on its land and prevent all future attempts to establish one of these devilish installations.
Germany to set out climate action plan by mid-2016
Germany will lay out a climate action plan for 2050 by the middle of next year and is talking to industry groups and trade unions about ways to end coal-fired power generation, its Environment Minister said on Monday.
Can the Paris agreement protect poor farmers from climate change?
By Megan Rowling – Thomson Reuters Foundation
Purity Gachanga is one small-scale farmer who is beating climate change. On her several acres of land in Embu North district in central Kenya, she keeps cows and goats that produce milk, grows trees for fodder, and collects water to irrigate her food crops in a pond filled with tilapia fish.
Are Women The Key To Solving Climate Change?
We know that the world’s poor feel the effects of climate change most acutely, but it turns out there is an even more vulnerable subset to that population: women.
EUEC 2016 Conference & Expo
Feb 3 – Feb 5, 2016
San Diego Convention Center, CA
U.S., Japan, Germany Among 18 Nations to Build Carbon Markets
By Mathew Carr – Bloomberg News
Eighteen nations including the U.S., Japan and Germany will work together to develop international carbon markets to help speed the pace of emission reductions under the Paris climate deal struck Saturday, according to the New Zealand government.
Paris Paves Way for Global Carbon Price, Ex-Australia PM Says
By Mathew Carr – Bloomberg News
The Paris climate accord will pave the way for carbon markets in Asia, Europe and the U.S. to link and form a global emissions price, according to Kevin Rudd, the former Australian prime minister whose climate policies helped cost him his job.
Natural gas / coal
Natural Gas Falls to Lowest Since 2002 on Mild Weather Outlook
By Piotr Bujnicki and Anna Shiryaevskaya – Bloomberg News
U.S. natural gas tumbled to the lowest intraday level since January 2002 amid forecasts that mild weather will persist through the end of the month.
Paris climate pact sinks coal stocks, lifts renewable energy
By Sudip Kar-Gupta, Annabella Nielsen and Swetha Gopinath – Reuters
A landmark deal to curb global warming dented shares of fossil fuel companies on Monday and lifted renewable energy stocks, although some price swings were muted by the non-binding nature of the pact.
India says Paris climate deal won’t affect plans to double coal output
India still plans to double coal output by 2020 and rely on the resource for decades afterwards, a senior official said on Monday, days after rich and poor countries agreed in Paris to curb carbon emissions that cause global warming.
Corning to Buy Power From 80-Megawatt North Carolina Solar Farm
By Brian Eckhouse – Bloomberg News
Corning Inc., the New York-based materials science company, agreed to buy power from a solar farm that Duke Energy Corp. is building in North Carolina.
Environmental lapses cost China coal-fired power producers $98 million
Violations of environmental regulations for scrubbing coal emissions have cost Chinese power producers 635 million yuan ($98.33 million) in lost subsidies and fines under new regulations that came into effect in 2014, the country’s central planning commission said.
Japan Bank Provides Loan for Icelandic Geothermal Power Plant
By Chisaki Watanabe -Bloomberg News
The Japan Bank for International Cooperation, known as JBIC, will provide an export loan of as much as $34 million for a 90-megawatt geothermal power project by Landsvirkjun in Iceland.
Australia reverses ban on wind farm investment under new leader
By Morag MacKinnon – Reuters
Australia has reversed a decision banning its clean energy fund from investing in wind power projects in the first sign that energy policy will be more favourable toward renewables under new leader Malcolm Turnbull.
Faraday Follows Tesla to Nevada for $1 Billion Auto Factory
By Dana Hull and James Nash – Bloomberg News
Faraday Future, the electric-vehicle startup backed by Chinese billionaire Jia Yueting, plans to manufacture its first car in 2017 at a $1 billion factory near Las Vegas, company and Nevada officials said.
What’s Driving The Electric Car Trend In China?
By Frank Langfitt – NPR (Audio)
Increased electric car sales are good for a country with a big pollution problem. Until recently only a few clean cars were on the road. The sales are also a bright spot for China’s economy.
BTG Said to Get Offer From Pioneer for Barcelona Water Stake
By Manuel Baigorri – Bloomberg News
U.K. private-equity firm Pioneer Point Partners has offered to buy out Grupo BTG Pactual SA’s stake in a Barcelona water network, as the Brazilian lender seeks to raise funds after its billionaire founder was arrested.
San Diego’s 18-Year Wait to Drink Sea Water May Hinder Deals
By James Nash – Bloomberg News
The largest ocean desalination plant ever built in the Western Hemisphere is finally generating drinking water — and revenue — 18 years after it was proposed in Southern California. Some investors say it wasn’t worth the wait.